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MB Trading Futures - Introduction

  • #1,721
  • Mar 6, 2008 3:12pm Mar 6, 2008 3:12pm
To paraphrase:

MT4 did not meet the specifications needed to interface properly with MBTrading, Metaquotes would not make modifications from their Dealing Desk model, the experiment was abandoned.

EFXGroup has since released the first installment of "Remote Trader" (formerly known as Project Omega) which will eventually have scripting capabilities for autotrading, and (maybe?) custom indicator creation.
  • #1,722
  • Mar 7, 2008 1:21am Mar 7, 2008 1:21am
Pity, MT4 is very good. Does anyone know how much Metaquotes charge for the MT4 Server ?

Quoting phy
To paraphrase:

MT4 did not meet the specifications needed to interface properly with MBTrading, Metaquotes would not make modifications from their Dealing Desk model, the experiment was abandoned.

EFXGroup has since released the first installment of "Remote Trader" (formerly known as Project Omega) which will eventually have scripting capabilities for autotrading, and (maybe?) custom indicator creation.
  • #1,723
  • Mar 7, 2008 2:58am Mar 7, 2008 2:58am
Quoting Pip Hunter E
I though MB would make margin calls on FX accounts, just like on any other type of trading account. Is that not the case?
Justin, margin calls in FX trading, or no? Thanks.
  • #1,724
  • Mar 7, 2008 7:56am Mar 7, 2008 7:56am
Quoting Pip Hunter E
Justin, margin calls in FX trading, or no? Thanks.

RTFM: http://www.mbtrading.com/fx/risk.asp
  • #1,725
  • Mar 7, 2008 8:01am Mar 7, 2008 8:01am
Yo, so I'm a credit where credit is due, no nonsense kind of dude. When I don't like something, I say so. When I think something rocks, I speak right up about that too.

I just got a fill 7 seconds after the NFP that was 20 PIPS BETTER than the LIMIT ORDER I had placed. This is REAL money yo, not demo account video game playing. See it for yourself in my attachment (none ya business how big I trade).

I can't count how many times I've seen people trying to talk crap about not being able to scalp or trade news with MB, here and elsewhere. If you want to say you can't scalp or trade news with MB, one of the following is true:

1. You do not know how to scalp or trade news.
2. You are a toad working for a crooked deal desk (not saying they are all crooked) who is trying to slander a competitor.
3. All of the above.

Props to MB for the great fill, and much thanks to the Lord for the job of my dreams!
Attached Image (click to enlarge)
Click to Enlarge Name: sweet NFP fill.JPG Size: 19 KB
  • #1,726
  • Mar 7, 2008 8:05am Mar 7, 2008 8:05am
Quoting shrike
RTFM:
RTFM lolz. Yeah I'ts been a while since I read that. Justin made some recent comments that made it sound otherwise when somebody was asking about your account going into debt. I'd like him to explain that. Thanks.
  • #1,727
  • Mar 7, 2008 8:24am Mar 7, 2008 8:24am
Yea Pip Hunter it must have been awesome when you saw your micro lot get filled. Sweet man. Who the F would want to scalp or trade around the news. I bet you you do not make money trading. Not asking you to prove it because I already know the answer. But seriously congrats about your great fill with your lousy broker.

Donkey doesnt even realize he was slipped 20 points...
  • #1,728
  • Mar 7, 2008 8:50am Mar 7, 2008 8:50am
Dude, slip me 20 pips in my favor 3 seconds after I place an order ANY time.

My target was protected by the limit order. Anything above is just gravy.

So it sounds like you've qualified for #1 of my list. How about #2?
  • #1,729
  • Mar 7, 2008 9:16am Mar 7, 2008 9:16am
Quoting Pip Hunter E
Dude, slip me 20 pips in my favor 3 seconds after I place an order ANY time.

My target was protected by the limit order. Anything above is just gravy.

So it sounds like you've qualified for #1 of my list. How about #2?
Yup...looks like a great fill to me.

Nice trade.
  • #1,730
  • Mar 7, 2008 9:17am Mar 7, 2008 9:17am
Pip Hunter,

Slippage can of course be in your favor or not in your favor. I am not sure you understand how pending orders work? Do you know why you got what you would call a favorable price? Please respond
  • #1,731
  • Mar 7, 2008 9:19am Mar 7, 2008 9:19am
Quoting Pip Hunter E
RTFM lolz. Yeah I'ts been a while since I read that. Justin made some recent comments that made it sound otherwise when somebody was asking about your account going into debt. I'd like him to explain that. Thanks.
Hi Pip Hunter E ~

This really is the best explanation, but if you want to contact me directly for further conversation about this, please do.

MB Trading Futures, Inc (MBTF) margin policies dictate that at any time a trader has an open position he/she must maintain a minimum of 20% equity. MBTF will make every effort to contact you in regard to risk position(s), however in some instances if your account declines to quickly, the order desk will liquidate partial or entire open position(s) at risk to bring your margin equity percentage to 40%.

Regards,
  • #1,732
  • Mar 7, 2008 9:19am Mar 7, 2008 9:19am
Justin,

Now that you will be soliciting on behalf of MBTrading and not EFX, are you going to have to get licensed?
  • #1,733
  • Mar 7, 2008 9:24am Mar 7, 2008 9:24am
Quoting fxtrader42
Justin,

Now that you will be soliciting on behalf of MBTrading and not EFX, are you going to have to get licensed?
I don't solicit...I answer peoples questions as they are asked on the boards.
  • #1,734
  • Mar 7, 2008 9:29am Mar 7, 2008 9:29am
Quoting fxtrader42
Pip Hunter,

Slippage can of course be in your favor or not in your favor. I am not sure you understand how pending orders work? Do you know why you got what you would call a favorable price? Please respond
Mr. 42, it seems you are very confused and distressed. If I place a limit order, which is the the target I have determined beforehand that I desire for a particular trade, I cannot be filled below my target. That's the limit part of the order. If the market should trade above my order (beyond my target), and the broker should find a match for my order at any level above my target, then I smile. You see, hitting proft targets = smile. Exceeding profit targets due to a better execution = bigger smile.

I hope this clears it up for you.
  • #1,735
  • Mar 7, 2008 9:29am Mar 7, 2008 9:29am
Justin: while you are here, can you confirm that akamai routing technology is actually in place with the current version of remote-trader? I mean that 'global same speed of execution' feature that was talked about in one of your presentations. I dont see it mentioned on the efx website either. I checked the other day, and my TCP connections dont reveal anything related to that.
  • #1,736
  • Mar 7, 2008 9:34am Mar 7, 2008 9:34am
Quoting jleblang
Hi Pip Hunter E ~

This really is the best explanation, but if you want to contact me directly for further conversation about this, please do.

MB Trading Futures, Inc (MBTF) margin policies dictate that at any time a trader has an open position he/she must maintain a minimum of 20% equity. MBTF will make every effort to contact you in regard to risk position(s), however in some instances if your account declines to quickly, the order desk will liquidate partial or entire open position(s) at risk to bring your margin equity percentage to 40%.

Regards,
That's what I thought was the case, but was confused by your convo with Dahila @ post 1681 or so. Unless you are talking total disconnect to the order desk and all systems (including your systems responsible for making the margin call), I don't see how you could go into the negative. Please throw me a scenario (however far fetched) that would be an example of how this could happen. I think everyone listening would beneft. Thanks.
  • #1,737
  • Mar 7, 2008 9:56am Mar 7, 2008 9:56am
Quoting Pip Hunter E
Mr. 42, it seems you are very confused and distressed. If I place a limit order, which is the the target I have determined beforehand that I desire for a particular trade, I cannot be filled below my target. That's the limit part of the order. If the market should trade above my order (beyond my target), and the broker should find a match for my order at any level above my target, then I smile. You see, hitting proft targets = smile. Exceeding profit targets due to a better execution = bigger smile.

I hope this clears it up for you.
I am so very confused and distressed... BTW I am sure you would have been real happy with your fill if the market had continued to go against you. Obviously it worked our for you; I am glad it did in all honesty I just dont like slippage when there shouldn't be any. I have also had orders where I got slipped where it turned out to be in my favor in the long run. I have had others where the opposite was the case too. My point still remains, why do you think getting slipped is a great fill? Is it simply because with this instance the market turned around at about 2.020 which happened to be in your favor. However, it took about 11 mins for the price to come back to where you would have been positive. So I dont know if you actually got out of the trade at a profit but by the sound of it you did. I had a very similar order that I put on yesterday and because I was unfortunately not able to get to my computer before the news thanks to a wonderful traffic accident. Normally, I would not have a pending order open around a news announcement. My order was for 1M at 2.0190 and I was filled at 2.0191 for 500K and at 2.0193 for my additional 500K for an average fill of 2.0192. My point to you is there were tradeable prices between your order and where you got filled. Therefore you have to ask yourself how much liquidity does MB have. Doesnt sound like a lot. Your fill was not a good one it just happened to work out for you.
  • #1,738
  • Mar 7, 2008 10:17am Mar 7, 2008 10:17am
Quoting Pip Hunter E
That's what I thought was the case, but was confused by your convo with Dahila @ post 1681 or so. Unless you are talking total disconnect to the order desk and all systems (including your systems responsible for making the margin call), I don't see how you could go into the negative. Please throw me a scenario (however far fetched) that would be an example of how this could happen. I think everyone listening would beneft. Thanks.
Volatile market....100 traders don't have stops and have over leveraged their account and we either have to call each client and ask they peal a piece of their trade off, place stops or close their positions. If we don't have time to do that, we start individual managing each of the accounts on our own, but the market is moving to fast to manage all of the accounts before incurring a negative balance.

Now I throw this question back at the group: Shouldn't traders be responsible for their own accounts to some degree? What is the point of trading if you over leverage yourselves, trade without stops and allow your account to get to the point of going negative? Might as well just donate your money to a worthy cause...I know lots of them.
  • #1,739
  • Mar 7, 2008 10:23am Mar 7, 2008 10:23am
Quoting jleblang
Might as well just donate your money to a worthy cause...I know lots of them.
Don't be a smart ass Justin. All types of trading make margin calls on accounts, which I assume you know.

I've never heard of a securities broker calling customers about their positions. I'm not sure why you would either. If a trader is not managing their account that's their problem. Liquidate some or all of the position, as any other broker would. Why you'd take responsibility to call clients about their positions is beyond me. (Don't give me some line about customer service either.)

Just close the positions like in every other type of trading. You'll have to if you are ever the size of a Merril, Schwab, TD, E-Trade, etc. You can't call millions of clients because they are not smart enough to manage their accounts lol.
  • #1,740
  • Mar 7, 2008 10:26am Mar 7, 2008 10:26am
Quoting fxtrader42
I am so very confused and distressed... Your fill was not a good one it just happened to work out for you.
Yes you REALLY are. That was my EXIT, smart guy, not the entrance into a position.

Didn't you see it was a limit sale? If it was a limit BUY, it could NOT have been filled above the limit price. Since it was a limit SELL, that means I am willing to sell at my limit price OR BETTER. BETTER, is exactly what I got.

There was NOTHING that "happened" to work out for me. You TRULY are confused.
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